On 30 September 2016, Spain published Royal Decree Law 2/2016 in the Official Gazette. The Decree Law is meant to increase revenue collections to meet budget objectives and has immediate effect for tax years beginning on or after 1 January 2016. It includes that for companies with turnover in excess of EUR 10 million in the previous year, the advance corporate income tax (CIT) payments due in April, October and December must be equal to the greater of the following:
- A 23% minimum rate on the…